BP selling 700 convenience stores

November 16, 2007
BP America Inc. in the next two years plans to sell the roughly 700 convenience stores it owns and operates, potentially displacing nearly 10,000 workers, the Houston-based unit of BP PLC of London said today.

The vast majority of BP's 13,000 U.S. convenience stores are independently owned. There are 75 BP convenience stores within 50 miles of downtown Indianapolis, according to a store finder on the company's Web site.

The sell-off is part of a previously announced reorganization to streamline operations.

The sites, which will be sold to franchisees, dealers and large distributors, will continue to sell BP gas in the eastern United States and Arco fuel in the western U.S. The stores will be rebranded as ampm. The company said most new owners likely would retain the same employees.
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